Debunking Liberal Myths About the Rich and the Capital Gains Tax

[Lesh]

Some people pay less than the capital gains tax rate on 401K withdrawals.

Some. Not many

 

[jc456]

The claim was that all those 401s that people have are taxed at the capital gains rate

That is false

no, you missed the point, the money invested in the 401k has gains and is removed, they will pay taxes on the money they remove that was a gain through the tax braket. For fk sake.

 

[jc456]

Some. Not many

do you understand the tax braket?

 

[struth]

Some. Not many

many people pay their ordinary income tax rate on cap gains. when they are short term cap gains

 

[Lesh]

None of the above three posts have anything to do with the thread

 

[Lesh]

You are again mixing apples and oranges

You need to compare similar levels of income and rates paid

Capital Gains does not deserve a lower tax rate. Should be taxed at the same rate

A brief redirect

 

[struth]

“Net is what you make AFTER you paid your expenses, gross is before”

How does that apply to stock transactions?

if you make a profit on it, there is net and gross

geez man

 

[Stryder50]

no, you missed the point, the money invested in the 401k has gains and is removed, they will pay taxes on the money they remove that was a gain through the tax braket. For fk sake.

In my case, money taken out of my 401Ks, minimum annual disbursement(distribution), is just another source of income in the appropriate line on my 1040 Income Tax return/filing. Becomes part of the formula for determining taxable amount of income, which then sets "tax bracket".

"Growth" in my 401Ks has varied over the years, IIRC there were a couple where it declined/reversed = no gain, rather loss instead.

Those who live off of the taxpayers usually have no grasp on risk and loss* potential in the part of the economy where wealth is produced versus the 'public' sector that lives off of stealing from, errrr "taxing" the producers.

* so-called capital GAIN is not a guarantee. Capital loss is also a possibility.

 

[Lesh]

In my case, money taken out of my 401Ks, minimum annual disbursement(distribution), is just another source of income in the appropriate line on my 1040 Income Tax return/filing. Becomes part of the formula for determining taxable amount of income, which then sets "tax bracket".

"Growth" in my 401Ks has varied over the years, IIRC there were a couple where it declined/reversed = no gain, rather loss instead.

Those who live off of the taxpayers usually have no grasp on risk and loss* potential in the part of the economy where wealth is produced versus the 'public' sector that lives off of stealing from, errrr "taxing" the producers.

* so-called capital GAIN is not a guarantee. Capital loss is also a possibility.

None of which has any relevance to this thread

 

[struth]

A brief redirect

short term cap gains is taxed at the same rate as ordinary income.

are you clowns just that idiotic on the tax system?

 

[Burgermeister]

I buy a house, stock, whatever, with after tax money that is left after multiple taxes - Fed, State, local. I sell it later for more to someone who is paying for it with after tax money that has already been taxed multiple ways. For some reason, some people think it's perfectly ok to tax the difference yet again. Just cause.

Hard to imagine that a big reason for the Revolution was the tea tax. 3 pennies per pound.

 

[Lesh]

short term cap gains is taxed at the same rate as ordinary income.

are you clowns just that idiotic on the tax system?

And long term capital gains are taxed at what rate?

Which are we talking about here dipshit? Long term or short term?

 

[Lesh]

I buy a house, stock, whatever, with after tax money that is left after multiple taxes - Fed, State, local. I sell it later for more to someone who is paying for it with after tax money that has already been taxed multiple ways. For some reason, some people think it's perfectly ok to tax the difference yet again. Just cause.

Hard to imagine that a big reason for the Revolution was the tea tax. 3 pennies per pound.

You might want to look that up. The tea thrown in the harbor was not taxed. Which made it cheaper than the tea the “patriots” were selling

 

[struth]

And long term capital gains are taxed at what rate?

Which are we talking about here dipshit? Long term or short term?

a lower rate....why would we want to tax long term investments at the same rate? we want to encourage people to save.

why are you taxing people's retirement savings at that rate? do you not want people to save to retire? why are you taxing people that sell their home they have had for decades at that rate? don't you want to encourage people to buy homes?

once again, we are talking about money they put into these things that already were taxed.

The real question is why tax it at all?

I certainly undestand short term gains, that's more of a money making, income making thing, not an investment.

 

[Lesh]

a lower rate....why would we want to tax long term investments at the same rate? we want to encourage people to save.

why are you taxing people's retirement savings at that rate? do you not want people to save to retire? why are you taxing people that sell their home they have had for decades at that rate? don't you want to encourage people to buy homes?

once again, we are talking about money they put into these things that already were taxed.

The real question is why tax it at all?

I certainly undestand short term gains, that's more of a money making, income making thing, not an investment.

People?

The wealthy

And they use those LTCGs as income that gets taxed at a far lower rate then the rest of us

Why you would support that baffles me because you surely are not wealthy

 

[struth]

People?

The wealthy

And they use those LTCGs as income that gets taxed at a far lower rate then the rest of us

Why you would support that baffles me because you surely are not wealthy

the wealthy? how are you defining that? people that own homes? have retirement accounts? Really? geez man, get out of your parent's basement.

Yeah, retired people might use LTCGs as income.....it takes having an investment over a year before you get that rate.